Boston Scientific Co. (BSX) Expected to Post Quarterly Sales of $2.56 Billion

Analysts forecast that Boston Scientific Co. (NYSE:BSX) will announce $2.56 billion in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Boston Scientific’s earnings, with estimates ranging from $2.55 billion to $2.57 billion. Boston Scientific reported sales of $2.41 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.2%. The company is scheduled to report its next earnings report on Thursday, February 7th.

On average, analysts expect that Boston Scientific will report full year sales of $9.83 billion for the current financial year, with estimates ranging from $9.81 billion to $9.88 billion. For the next year, analysts expect that the business will post sales of $10.64 billion, with estimates ranging from $10.53 billion to $10.86 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Boston Scientific.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis.

Several analysts recently commented on the company. Argus upped their target price on Boston Scientific from $41.00 to $43.00 and gave the company a “buy” rating in a report on Friday, October 26th. Canaccord Genuity upped their target price on Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, October 25th. Oppenheimer set a $38.00 target price on Boston Scientific and gave the company a “hold” rating in a report on Wednesday, October 24th. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a report on Thursday, October 25th. Finally, Cowen set a $42.00 target price on Boston Scientific and gave the company a “buy” rating in a report on Monday, October 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $39.00.

In other news, Chairman Michael F. Mahoney sold 116,666 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.88, for a total transaction of $4,185,976.08. Following the transaction, the chairman now directly owns 2,023,104 shares of the company’s stock, valued at $72,588,971.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $36.02, for a total value of $180,100.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 412,500 shares of company stock worth $15,292,977. Insiders own 0.73% of the company’s stock.

Several large investors have recently modified their holdings of BSX. Captrust Financial Advisors raised its position in shares of Boston Scientific by 103.8% during the second quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock worth $102,000 after purchasing an additional 1,594 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of Boston Scientific during the second quarter worth approximately $104,000. Kaizen Advisory LLC raised its position in shares of Boston Scientific by 146.7% during the second quarter. Kaizen Advisory LLC now owns 3,299 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 1,962 shares during the period. Moody National Bank Trust Division acquired a new position in shares of Boston Scientific during the third quarter worth approximately $108,000. Finally, NumerixS Investment Technologies Inc raised its position in shares of Boston Scientific by 1,650.0% during the second quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock worth $114,000 after purchasing an additional 3,300 shares during the period. 91.00% of the stock is currently owned by institutional investors.

Shares of BSX stock opened at $36.81 on Friday. Boston Scientific has a one year low of $24.54 and a one year high of $39.44. The company has a market capitalization of $50.94 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.42 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 0.58.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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